Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 3:37 AM ET
Energy Markets & Geopolitics
Oil futures dropped 1.3% in early Asian trade as technical selling followed a sharp rally, while gold edged higher amid ongoing Middle East conflict, holding near $2,340/oz. The yen fell to its weakest level since July 2024 as the Iran war escalated, pushing Brent crude above $100 for the first time since 2022. Malaysia warned its subsidy bill would rise due to higher oil prices, while the Philippines reviewed a 30-year-old oil law to regain control over fuel prices. Thailand halted rice exports to the Middle East as war disrupted shipments to its largest market, straining farmers already grappling with rising costs.
Fixed Income & Currency
Treasury volatility jumped to a nine-month high as the Iran conflict fanned inflation concerns and upended Fed rate cut expectations. Economists forecast ECB rates unchanged through 2027 despite inflation threats resurfacing, while the Singapore dollar consolidated amid possible position adjustments. A Chinese energy-construction giant spotlighted an arcane credit market corner where investors seek to double fixed-income returns through technical loopholes.
Technology & AI
Tencent and Alibaba earnings are under scrutiny as Open Claw AI mania spreads in China, with a top fund arguing Chinese AI giants offer better value than U.S. peers. Meanwhile, Meta delayed its new AI model rollout after performance concerns, having already spent billions on development. Ukraine plans to make drone battlefield videos available for AI training despite ethical concerns, aiming to improve targeting capabilities against Russia.
Equity Markets & IPOs
Hong Kong proposed lowering the minimum market value for dual-class share listings to revive its IPO market, while expanding its name-and-shame regime to include law firms and auditors. PayPay kept a dual listing on the table after its $880 million U.S. IPO, and Madison Air filed for a Nasdaq IPO targeting a $500 million valuation. Australian gold miner Northern Star sank after cutting output guidance due to processing mill problems, while Immutep wiped out most of its A$582 million market value, dealing a fresh blow to Sydney hedge fund Regal Partners.
Private Markets & Infrastructure
Brookfield sought an $800 million loan for its proposed World Freight air cargo acquisition, while Blackstone arranged a $1.2 billion credit facility for Air Trunk's Japanese data center expansion. Carlyle overhauled its European private equity team after poor performance, with plans to restart fundraising in its flagship buyout fund. Australian pension Rest Super eyed more U.S. private market investments ahead of New York meetings, as Australia's A$4.5 trillion system becomes the world's fourth-largest retirement pool.
Trade & Supply Chains
Iron ore headed for its biggest weekly gain in over a year after China's state-backed buyer expanded restrictions on BHP products. China's train to North Korea made its maiden voyage after a six-year hiatus, though passenger numbers remained low. Singapore disputed U.S. trade surplus data as new tariffs loomed, claiming a 2024 deficit with America. China's consumption start to 2025 may be the worst outside pandemic years, highlighting challenges to boosting domestic demand.
Real Estate & Construction
HS2 rail executives held last-ditch talks to renegotiate supplier contracts as costs spiraled out of control. Qantas agreed to pay $74 million to settle a class action over its Covid-era flight credit policy. Super-prime property values reached new heights with single-home prices exceeding $200 million, raising questions about how much higher the market can go.
Regional Markets & Policy
The Philippines braced for labor market pain from the Iran war after joblessness surged to a nearly four-year high. New Zealand's recovery likely lost momentum in late 2025 before Middle East conflict impacts hit. Brazil's Supreme Court barred a U.S. State Department official from visiting imprisoned former President Bolsonaro. Cuba pledged to release 51 prisoners amid Washington's oil blockade pressure.